A closer look at the Square Payment System

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Phil Torrone got to look at the new Square iPhone Payment system and he and the daring Lady Ada of AdaFruit industries took some photos and video of a prototype of the new device. To recap, the Square device is a little dongle that lets you swipe credit cards. With a quick slash of the card you can accept payment from anyone for almost anything.

Not much to write home about right now but this early beta seems to work like a charm, reading and authorizing a charge in seconds. Great for the hunter/gatherer economy that will come in to replace our current capitalistic model.

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Crunchbase

OverviewSquare helps anyone take care of their business. Square's complete [register](http://www.square.com/register) service is a full point of sale with tools for every part of running a business, from accepting credit cards and tracking sales and inventory to small-business financing. Customers also use [Square Cash](/product/square-cash), the easiest way to send and receive money, and [Square Order](/product/square-order), …